Fed's Kashkari cites high risk inflation is "settling"
By Howard Schneider WASHINGTON (Reuters) - The strength of the U.S. housing market and potentially stalled progress on inflation means monetary policy may not be as tight as Federal Reserve officials think it is, Minneapolis Federal Reserve Preside...
2h ago
Fed may need to hold rates steady all year, Kashkari says
(Reuters) - Stalled inflation buoyed in part by housing market strength means the Federal Reserve will need to hold borrowing costs steady for an "extended period," and possibly all year, Minneapolis Federal Reserve President Neel Kashkari said on ...
3h ago
TikTok, ByteDance sue to block US law seeking sale or ban of app
By David Shepardson WASHINGTON (Reuters) -TikTok and its Chinese parent company ByteDance sued in U.S. federal court on Tuesday seeking to block a law signed by President Joe Biden that would force the divestiture of the short video app used by 170 mil...
3h ago
Column-Fragile Treasuries relying on rare macro serenity: McGeever
By Jamie McGeever ORLANDO, Florida (Reuters) - Any hope of sustaining U.S. fiscal accounts at such stretched levels and keeping the fragile bond market equilibrium intact may have to hinge on avoiding any recession at all - a cycle-busting scenario...
5h ago
Chile central bank says economy recovering but some sectors lag
By Natalia A. Ramos Miranda SANTIAGO (Reuters) - Chile's central bank said in a report on Tuesday that the economy is broadly recovering, though some sectors have lagged and financial market depth has not yet returned to levels seen before the coro...
5h ago
Inflation-hit Argentina launches new top banknote, worth just $10
(Reuters) - Argentina has a new largest banknote, the 10,000 peso, which is five times the size of the previous top bill but still only worth around $10 as the South American country grapples with the world's highest inflation rate that is nearing ...
6h ago
Apple expected to show new iPads and possibly a new chip
By Stephen Nellis (Reuters) - Apple plans to hold a virtual event on Tuesday where it is expected to show new iPad models, some of which could come with a new chip aimed at speeding up artificial intelligence tasks carried out on the devices. Its l...
6h ago
CICC, Citic, JPMorgan cut investment banking jobs in China as deals stall
HONG KONG (Reuters) -Two Chinese companies and JPMorgan have become the latest banking groups to cut jobs in China as a slow recovery in listing and dealmaking activities force them to ramp up cost controls, six sources with knowledge of the matter sai...
6h ago
US power and natgas prices turn negative in Texas, California and Arizona
By Scott DiSavino (Reuters) - U.S. spot power and natural gas prices turned negative in Texas, California and Arizona for Tuesday as pipeline maintenance trapped gas in the Permian Shale in West Texas amid low demand for energy and ample hydropower...
6h ago
Goldman Sachs names former Fed Dallas chief Kaplan as vice chairman
By Saeed Azhar NEW YORK (Reuters) - Goldman Sachs said on Tuesday it had appointed Robert Kaplan, the former president of the Federal Reserve of Dallas, as its vice chairman, bringing an influential banker on to its management committee. Kaplan wil...
7h ago
Australian budget to target housing woes with more construction workers
SYDNEY (Reuters) - The Australian government will boost the number of skilled workers in the housing sector in next week's national budget, spending A$90.6 million ($59.76 million) on free training and making it easier for skilled construction work...
7h ago
Froot Loops maker WK Kellogg beats revenue estimates on higher prices
(Reuters) - WK Kellogg Co beat Wall Street estimates for quarterly sales on Tuesday, as higher product prices offset pressure from slowing demand for the Froot Loops maker's ready-to-eat breakfast items and snacks. Like other major brands in the pa...
7h ago
S&P 500, Dow futures inch higher ahead of Walt Disney results
(Reuters) - Futures tracking the S&P 500 and Dow edged higher on Tuesday, ahead of quarterly results from Walt Disney, while expectations of the Federal Reserve's interest rate cuts this year helped support market sentiments. The three main U.S. st...
8h ago
Ferrari's core earnings rose in Q1, sticks to FY guidance
MILAN (Reuters) - Ferrari said on Tuesday its core earnings rose 13% in the first quarter of the year as the luxury sports car maker was supported by pricing power and product mix, as well as by a greater contribution from personalisation. The Ital...
8h ago
Spirit Aero burns more cash as 737 output drops
(Reuters) -Spirit AeroSystems reported a higher first-quarter cash burn on Tuesday, squeezed by lower 737 production at the aerospace supplier's biggest customer, Boeing. Cash burn was $444 million for the three months ended March 28, compared with $69...
8h ago
Brazil's Embraer reports smaller adjusted net loss in Q1
SAO PAULO (Reuters) -Brazilian planemaker Embraer reported on Tuesday an adjusted net loss of 63.5 million reais ($12.51 million) for the first quarter, less than the 460.5 million-real loss it posted a year earlier, according to a securities filing. T...
8h ago
Mexico's auto production, exports jump in April
(Reuters) - Mexico's automotive industry saw a jump in production in April while exports also increased from a year earlier, data from national statistics agency INEGI showed on Tuesday. Production increased by 21.74% to 358,575 vehicles and auto e...
8h ago
EV truck maker Nikola misses first-quarter revenue estimates
(Reuters) - Nikola missed Wall Street expectations for quarterly revenue on Tuesday, as the electric truck maker delivered fewer hydrogen fuel cell trucks amid an uncertain macroeconomic outlook and reduced spending by customers. The company report...
9h ago
Nissan CEO: committed to staying in China but strategy there must change
PARIS (Reuters) - Nissan is committed to staying in China but the company must change its strategy in the country, Nissan CEO Makoto Uchida told a business conference hosted by the Financial Times in Paris on Tuesday. Uchida added that Nissan was i...
9h ago
Tylenol maker Kenvue beats quarterly profit estimates, to cut 4% jobs
(Reuters) - Kenvue beat Wall Street estimates for first-quarter profit on Tuesday, and said it would cut 4% of its global workforce amid the Tylenol and Band-Aid maker's efforts to expand its key brands. Since its spinoff from Johnson & Johnson in ...
9h ago
US seeks answers from Tesla in Autopilot recall probe
(Reuters) - U.S. auto safety investigators are seeking detailed answers and documents from Tesla in an investigation into the automaker's December recall of more than 2 million vehicles to install new Autopilot safeguards. The National Highway Traf...
9h ago
Disney posts surprise profit in streaming, raises earnings forecast
By Lisa Richwine LOS ANGELES (Reuters) - Walt Disney's streaming entertainment unit posted its first profit on Tuesday, two quarters ahead of schedule, and the media company raised its annual earnings per share outlook as it said turnaround efforts...
9h ago
Pakistan considers raising retirement age ahead of IMF visit
(Reuters) -Pakistan is considering raising its retirement age to reduce burgeoning pension payments ahead of the annual budget and International Monetary Fund (IMF) mission visit, the country's finance minister said on Tuesday. An IMF mission is likely...
10h ago
Perpetual to be broken up with name being sold to KKR in nearly $1 billion deal, AFR reports
(Reuters) - Australia's Perpetual will be broken up, with its name sold to global investment firm KKR & Co, in a deal worth over A$1.5 billion ($990 million), the Australian Financial Review reported on Tuesday. The transaction will represent the b...
11h ago
Tesla's China-made EV sales fall 18% y/y in April
BEIJING (Reuters) - U.S. automaker Tesla sold 62,167 China-made electric vehicles in April, down 18% from a year earlier, the China Passenger Car Association (CPCA) data showed on Tuesday. Deliveries of China-made Model 3 and Model Y vehicles slid ...
11h ago